Dear reader,
This week, we talked to Daniel Dumbrill about the White House’s latest sanctions against China, Huawei’s domestic and global strategies in the face of growing restrictions, and the new law passed by the US congress to fund its tech industry and try to contain China’s advance.
In other news, we are debuting the new format for our weekly News on China video, now two minutes long.
Watch, enjoy, and share!
—Dongsheng editorial collective
Geopolitics
G7 nations unite to compete against China on vaccines, climate, and infrastructure for developing world but without concrete plans
G7 promises one billion vaccine doses within a year, criticizes China on Hong Kong, Xinjiang, and Taiwan, and announces “Build Back Better World” (B3W) rival to BRI; Chinese embassy in UK criticizes “small circle” power politics
Target of numerous US and EU sanctions, China passes anti-sanctions law to create legal defense against Western attacks
Law introduces penalties for those who comply with foreign sanctions against China – such as visa cancellation and freezing or seizing of assets; companies would have to choose between complying with Western sanctions or Chinese law
National Politics
With 20 million people vaccinated/day (60% of global total), China administered over 923 million vaccine doses by June 15
China accounts for 37% of world’s total vaccination doses (2.5 billion), followed by the US (311 million) and India (255 million); China exported 350 million of doses to over 75 countries
China passes Data Security Law to protect domestically-stored data from US jurisdiction and strengthen national security, effective September 1
Data was declared a factor of production in April 2020 alongside capital, labor, and land; international companies located in China must store data domestically, with fines up to US $1.55 million for noncompliance regarding state data
Economy
Between January and May, foreign direct investment in China (US $75.3 billion) increased 30.3% from same period in 2019
FDI grew in service industry (41.6%, US $59.7 billion) and tech sector (34.6%) year-on-year; investments increased from ASEAN (56%), Belt and Road countries (54.1%), and EU (16.8%)
Three Gorges Renewable Company raises US $3.5 billion to invest in wind energy, in largest initial public offering (IPO) in 17 months
Company’s profit (US $558 million) and revenue (US $1.7 billion) grew by about 27% last year; IPO capital will finance seven coastal projects, including country’s first offshore wind plant combined with aquafarming
Agriculture and Environment
China publishes most papers globally on decarbonization technologies in 16 of 18 research areas (2015-20)
With US $250 billion government budgeted R&D in 2018 (US, US $140 billion, 2019), China leads in battery storage – critical for renewable energy supplies — solar cells, and electric vehicles, and is reaching US lead in paper quality and impact
From January to May, China imported 38.23 million tonnes of soybeans (US $19.35 billion, +44.2% year-on-year)
Primarily used for pig feed, soybeans accounted for 22% of total expenditure on food imports, which grew 33.8% year-on-year; top suppliers were US and Brazil (+12.8% year-on-year)
People’s Life and Culture
Henan TV’s underwater dance for Dragon Boat Festival becomes an online hit, as public television broadcasters find new platforms and audiences
Through innovative adaptation of traditional TV to online programming, the viral performance featured former synchronized swimmer He Haohao portraying ancient story about Luo River goddess; the two-minute video took 26 hours to film
Chinese artists’ political satire of G7 leaders go viral, criticizing Western hegemony and interference in China’s internal affairs
Bantonglaoatang recreated “The Last Supper” painting (1498), replacing Christian religious figures with imperialist animals in “The Last G7”; Wuheqilin combined photographs of G7 foreign ministers’ meeting in May with Eight-Nation Alliance’s invasion of China (1900)
“The Last G7” illustration [Bantonglaoatang]
Subscribe to News on China. The digest is published every Saturday in English, Spanish, Portuguese, and French.
Read the News on China: Africa Weekly in English, Spanish, Portuguese, and French.
Follow our social media channels:
- Twitter: @DongshengNews (English), @DongshengNewsES (Spanish), @DongshengNewsBR (Portuguese)
- Telegram: News on China, Noticias de China, Notícias da China
- Instagram: @DongshengNews
- YouTube: Dongsheng News